People generally think of banks as a place to hold personal and business accounts, get loans for businesses and real estate, manage a checking system, obtain money orders, manage credit cards, etc. A few think of banks as a place to get greater financial advice for such services as portfolio management, college preparation, etc.
Accordingly, banks market their services by offering low interest rate loans, higher interest rate savings accounts, higher interest rate certificates of deposit, additional services to the business entity, talented portfolio managers to assist with financial planning, etc. Some offer free services, e.g., free money orders, free checks, etc., to higher net-worth individuals or individuals involved in greater business arrangements with the bank (e.g., high loans).
However, once an individual or business entity has established an account with one bank, there is limited motivation for the individual or business entity to switch banks. A small difference in interest rate at another bank is generally insufficient draw to overcome the hassle of moving an account (including changing checks, learning new passwords, switching automatic deposits, switching automatic payments, etc.). Further, there is limited reason for individuals or businesses to have multiple accounts at multiple banks. Accordingly, once an individual or a company has created an account at a bank, the individual or business entity typically pays little attention to and is rarely swayed by bank marketing.
Systems and methods are needed that motivate individuals and business entities to select one bank over another, and possibly to switch banks. Further, systems and methods are needed to change consumer perception of a bank to be more that just a financial institution. For example, systems and methods are needed that enable customers to see banks as a portal to the community and an assistant to business development.